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ceiling even before we tumble over the fiscal cliff. good morning from washington. it is thursday, december 27th. this is "the daily rundown." i'm luke russert. two days after christmas and washington is back to work trying to harsh out a deal to avoid the fiscal cliff. the senate will get back from the session after holiday break. the president is expected to arrive back to the white house without his family to get back to twork mework to meet the loo deadline. mike is at the white house. let's start with you. the consensus around the hill is that we are more likely than not to go over the fiscal cliff, but there is a small chance harry reid could take a house pass bill and amend it and send it back over to the house. what are you hear being that? >> conceivably, but when the president lights upon the south lawn and the marine one later this morning, it's unclear why he is coming back and who will be here with him. as you mentioned, speaker boehner remains in ohio where he is from. he is not coming back to washington. neither is the house of representatives. they simply said it's
" this morning, with an 11th hour deal to prevent the u.s. going off the fiscal cliff, is that actually going to happen? we have both sides of the aisle and both sides of congress with us. republican representative steve la tourette and democratic senator richard blumenthal. "sex and the city" d.c. style. we'll talk to the authors of the juicy new novel dishing about life working for a demanding senator on capitol hill and he's a mean one. the grinch from the musical joins us live and it turns out he may not be that mean after all. that and much more in 14 minutes or so. the grinch is going to be here. >> in costume, i hope. >> of course. it's going to be the real grinch. it's not an actor, it's the grinch for those kids watching this morning. >> of course it is. thank you, ali. >> good to see you both. >> we'll be watching. 47 minutes after the hour. let's get you up to state with the top stories. six states from pennsylvania to maine facing a winter storm, a big one. 12 to 24 inches of snow could fall in parts of new england. holiday travel just a nightmare on the roads and in the air. more
-called fiscal cliff, and lawmakers scrambling to come up with a solution. >> good morning darya protection live look at the roof cam downtown san francisco. it still looks like christmas. we are enjoying clear conditions. it is cold out there with the badgers in the '40's were the most part typical continue to drop about another five degrees approaching sunrise. >> localbundle up to the afternoon. the images will stay in the '50s as we head into the evening hours. mostly clear skies and dry conditions. here is a look at the numbers for those of you heading out. 39 degrees for fairfield. 41 for napa. mid-40s in richmond. temperatures will continue to drop. we are seeing mid '30's hovering right above the freezing mark for the portion of our protective valley. you may need to scrape your when should wipers. >> as we take a look at satellite and radar high pressure has built in of the area at least for the next day or so. after that we have wet weather in the forecast. temperatures today sitting around a 53 degree mark. i will break down your afternoon highs and what you to futurecast for my next
republican support for any bill that might pass congress to avert the fiscal cliff. >> brianna keilar reporting live from hawaii this morning. >>> checking our top stories before heading back to d.c. to try to head off the physical -- the fiscal cliff. you know what i'm saying. the president and first lady michelle obama visited marines and thanked them for their service. >> the greatest honor i have as president is being commander in chief and the reason it's an honor is because not only do we have the finest military in the world but we also have the finest fighting men and women in the world. >> mrs. obama and the girls won't cut short their vacation. they're staying on in hawaii. >>> former braves great andruw jones free on a bond in atlanta on a battery charge. there was a domestic dispute between he and his wife. the center fielder played with the new york yankees last year and recently signed with a team in japan. >>> the city of los angeles is holding its annual gun buyback today, several months ahead of schedule. the buyback program allows anyone to bring in guns and rifles i
. on to the fiscal cliff this morning. the president cutting his vacation short in hawaii. the president plans to leave for washington tonight. congress expected to return on thursday. president, guys, not expected to actually arrive in washington until tomorrow morning. no talks scheduled that we know of as of yet. all the attention's going to turn to the senate, which tends to be more of a compromising body than the house is. >> yes. and the president is available in person if you should want to go over there and visit with him. or perhaps if he wants to visit with anybody else. the consensus seems to be if you get some sort of a deal, it's obviously not going to be the big deal. it will simply be something that extends the tax cuts for the vast majority of americans, at least those earning less than $250,000 a year. the consensus seems to be, carl, that if we don't get a deal by the second or third or fourth week, the super bowl week, we'll start to feel it in the economy. >> we had a notable sell-off. there is typically a bias on christmas eve, but the worst christmas eve performance for t
in san francisco. fiscal cliff talks will resume this morning in washington. when will have a live look from the senate floor. also inside the office of one of the richest man is on the planet. warren buffett. those stories and much more when the kron4 morning news continues. >> >> compared to yesterday that the nasty weather would not be the case today. high- pressure is in control and we will continue to see the sunshine and dry weather. not only this afternoon but clear conditions will continue into the evening hours. satellite and radar pictures look like mainly active whether it has shifted too our east. we are dry for now but we have changes to talk about as another storm is headed in our direction. i will break down full details and walk you through future cast four and my next report. >> it continues to be a pretty good ride even though we had a few minor incidents on the peninsula. they have cleared up now and the bay bridge ride and has a light traffic and no meat during lights. the quick check commute shows we're dealing with much much lighter than usual traffic. you'll not f
at the top of the hour on "morning joe," treasury secretary tim geithner throws a monkey wrench in the fiscal cliff talks, announcing that the u.s. will reach its budget cliff by monday. we'll discuss that on "morning joe." and when we come back, we'll hudding around the water cooler, where it gets awkward in an interview between the obamas and barbara walters. that's next when "way too early" comes right back. ♪ >>> okay, enough with the real news, let's gather around the water cooler to watch barbara walters try to pull back the curtain on life at the white house. the 83-year-old journalist sat down to interview president obama and the first lady, assuming we've all heard plenty about the fiscal cliff, walters wasted little time pivoting to more intimate territory. >> when you look at this picture, what do you think? at what point was it taken? >> i think we were campaigning in iowa. >> so, why were you hugging so hard in iowa? >> because i love my wife. >> well, and also, i hadn't seen him in a while. i mean, you know, when you're campaigning, we're two ships passing in the night, and th
this morning, cutting short his holiday vacation. however, with only five days before the fiscal cliff deadline, no new negotiations have been scheduled. and adding to the pressure, treasury secretary tim geithner says the country is on track to hit its borrowing limit on monday. >>> and former president george h.w. bush has been moved to the intensive care unit at a hospital in houston. he's in guarded condition because of a stubborn fever. mr. bush who is 88, has been hospitalized for more than a month now, trying to recover from bronchitis. >>> you think you pay a lot to park. not compared to folks in chicago. it's going to soon cost $6.50 per hour. that's like 10 cents a minute at a meter downtown. after the rate goes up 75 cents in the new year. >> in quarters? >> yes, quarters, you can also use a credit card. >> who carries $6.50 in quarters? >> you can use a credit card, you guys. >> makes perfect sense. >> but they have the dubious distinction of having the most expensive parking meters in chicago. so, congratulations, chicago. it's a lot of money. >>> but at least this won't happen to
fiscal cliff deadline. it is now just five days away. is there any movement on either side? how many times can we ask this question of abc chief white house correspondent, jonathan karl, joining us this morning. dare i ask, where we stand this morning? >> reporter: good news and bad news. the president's coming back to washington. the senate's coming back. they're ready to strike a deal. the bad news, josh, no progress whatsoever. and in fact, the treasury department said that the government on monday will hit the limit of how much money we can borrow to run the government. they're going to do some extraordinary measures to keep us running to february. but things look grim. the one sliver of good news i can say on the substance is, the speaker's office tells me this morning there has been contact between the speaker of the house and the president, at least on the staff level. and they won't say whether or not the two men actually spoke. >> contact. hazahs all around. what do we really mean? >> reporter: everybody will see their taxes go up. here's three examples. you have a teacher w
cliff. senate majority leader this morning said it looks like that is where we are headed, certainly investors don't like to hear that. the white house has said that the president has made separate calls to congressional leaders as he heads back to dc to try to deal with the deadline. >>> this morning the labor department reported a better than expected report on the number of jobless claims, 350,000 people filed for first time unemployment benefits last week. that's down 12,000 from the week before. most economists expect that to hold steady from the week before but they warn that decline may be blown up because government offices were closed monday and tuesday. >>> and more sign that the economy is improving. the commerce department said sales of new homes rose 4.4% in november. americans bought new homes at the fastest pace in more than two and a half years. they said demand was up more than 15% from a year ago. >>> consumer confidence has fallen because people are so worried about that fiscal cliff. the index has hit the lowest level since august. the concern is over tax increase
'll show it to us. who is the media blaming for the fiscal cliff? you know the answer to that one and so does bret, ale he join us. entitlements keep rolling totally unchecked. young people are picking up the bill, but they he voted for it. we're looking at the biggest winners and losers in the s&p 500. let's start with three of the biggest losers and show you how much they've lost and where they are right now. start with best buy, down a little right now. down 50% so far this calendar year and chip maker advanced microdevices, it, too, is down 1 this morning, down 55% so far this year. online education company apollo group down 62% for the year, down again as of this morning. time to give you a couple of winners. start with bank of america, more than doubled this year, up 107%, it's up again right now, 10 cents higher. whirlpool up 110% this year up 41 cents. sprint nextel. up 137% this year, it, too, is up again this year and then pulte homes up 182% and yes, it is up again as of right now. the big losers all down, the big winners all up this thursday morning. then we've got facebook's
"fiscal cliff" pushed stocks down for a third consecutive day. the dow lost 24 points thursday. the nasdaq fell 22. asian stocks are higher this morning after china's industrial companies showed profits. tokyo's nikkei gained 1% to finish at a 21-month high. hong kong's hang seng rose half a percent. >>> president obama returns to washington for one final effort to avert the so-called "fiscal cliff." with just five days left until the deadline and no sign of a compromise, congressional leaders are urging the senate to consider a bill that's already passed in the house that would extend existing tax cuts. >>> the us treasury department says it will start taking steps to postpone the government from hitting the $16.4 trillion debt limit the money the government can spend to finance its operations. >>> toyota will pay the biggest sum of money ever recorded for a car defect. the proposed $1 billion settlement will resolve a class action lawsuit for hundreds of toyota owners who claim unintended acceleration problems caused numerous crashes, injuries and even some deaths. >>> and chicago wins t
away from the "fiscal cliff." he took the red eye from hawaii overnight. senators are set to work today on a plan to avoid the so- called "fiscal cliff." but house gop leaders say they will not return to washington unless the senate passes a bill. with no deal on the horizon, a new poll finds the gop gets the biggest share of the blame for the stalemate. >> both sides here have a problem with the american people and it's why congress has 11% job approval rating. >> even starbucks is gettingismy for an agreement. its employees are writing "col together" on coffee cups in d.c. to try to encourage compromise. >>> hawaii's lieutenant governor brian shots will replace the late democratic senator daniel inouye who died of respiratory complications last week. on the day he died he wrote to the governor asking for a female representative to replace him. she made it to the final round of consideration but did not win the nomination. >>> and former president george h.w. bush is in intensive care at a houston hospital with a fever and cough. mr. bush was admitted to the hospital more than a month
public stance on avoiding the fiscal cliff. the starbucks ceo as its workers at 120 d.c. area stores to write come together on coffee cups they serve today and tomorrow. he says it's a way to " send our elected officials in respectful but the message, urging them to come together to find common ground " on prices might still be recovering but the price of rentals has skyrocketed and many u.s. cities especially oakland and san francisco. san francisco that the no. 10 spot well open comes in at no. 2. according to the cnn report opens all rents surged partly fuelled by renters priced out of san francisco which is still booming with tech talent. the year over a rise the year over year rise in oakland was 11.6% in sampras's go it is a 5.8%. the number one spot goes to houston at 16.8%. we will be right back. óó >> we're watching the weather across the country because a lot of people are traveling this week. all of the weather we saw this past week has pushed east and now it is in new york. also parts of new england are being hammered by snow. this is a storm that has been given a name
into the swipe of things. plus, could a tumble off the fiscal cliff hurt the markets? one trader says don't fall for the hype. first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning. it's friday, december 28th. i'm angela miles. in today's first look: watch your neck. the market is a head-turner. yesterday the dow dropped more than 100 points on word out of washington a resolution to the fiscal cliff was unlikely. but president obama returned early from vacation and is said to have a new proposal to offer congress, sparking a rally that left the dow down just 19 points. reports are swirling apple is moving production of its mac mini computers to foxconn plants in the u.s. apple may also be working on a smart watch. and, the new york stock exchange landed the most ipo for 2012. larry levin of trading advantage joins us now. larry, it feels like we are already hanging off that cliff. > > it definitely feels that way. everybody is obviously watching for some kind of news out of washington. that is what has moved the market eve
in time. talks underway this morning. the clock is ticking what farmers are calling the dairy fiscal cliff. patti ann. patti ann: aptly named. dominic di-natale live in l.a. for us. thanks. gregg: the deadly winter weather is far from over. new warnings of another powerful system heading our way. the already storm-pummeled northeast really hurting. >> new concerns about what if any progress is being made on those fiscal cliff talks. south carolina republican nick mulvaney is on the house budget committee and he joins us live, next. let's give thanks - for an idea. a grand idea called america. the idea that if you work hard, if you have a dream, if you work with your neighbors... you can do most anything. this led to other ideas like lerty and rock 'n' roll. to free markets, free enterprise, and free refills. it put a man on the moon and a phone in your pocket. our country's gone through a lot over the centuries and a half. but this idea isn't fragile. when times get tough, it rallies us as one. every day, more people believe in the american idea and when they do, the dream comes true. we'r
to stay off the roads this morning. >> 95 in the white marsh area looks pretty good. some problems that the bay bridge. >> 2013 will usher in some new laws. >> lawmakers returning today to tackle the fiscal cliff are being faced with another deadline. >> sprinkles overnight are moving off to the east but t >> you're watching wbal-tv 11. live, local, late-breaking. this is 11 news today at 5:00 a.m. >> good morning. welcome back to 11 news today. i am jennifer franciotti. >> i am sarah caldwell. thanks for joining us for 11 news today. >> the wind is increasing behind the storm. all the melting snow has the roads completely wet. imagine if we were at the freezing mark. we are lucky the temperatures are above freezing. we are close to the freezing mark at sykesville. downtown, 41. we expect the temperatures to hold steady throughout the day. >> that is good news. we noticed more traffic this morning. >> today and tomorrow and next week is new year's. wind warnings are in effect at the bay bridge. prepare for a little bit of extra time. 55 on 295. the entire beltway is up to speed. so
hawaii. five days until we fall off the fiscal cliff. the president returning to washington to try to negotiate things there. doug luzader is life with the president's plans and what could happen if a deal isn't reached in time. >> the president is in the air on board air force one heading back from hawaii. he is going to come back from washington where not much has changed. as far as congress is concerned the senate will be meeting today. interesting little tidbit this is the first time since 19170 there have been legislative business conducted in the weeks of between christmas and new years. we will see some activity on hap t capitol hill. there may be a stopgap measure to try to prevent the calamity that happens at the end of the year if we reach the fiscal cliff. if we do not have some kind of a compromise. here's what's going to happen. just about everybody is going to have a tax increase. the number goes up significantly with incomes. if you are talking 200 to 500,000 in income almost 14,000 dollars in tax hikes. the wealthiest americans people that make a million dollars or
this morning, let me bring you up to date on the fiscal cliff. we're now just five days away from going over the fiscal cliff. happy new year. here's what you might have missed. president obama left hawaii early to get back to washington today. the senate is also coming back from christmas vacation today to work on a deal. now, sources tell us majority leader harry reid will push a scaled-back version of the fiscal cliff package that president obama laid out on friday, which moved the tax hike needle to $400,000. no word yet on when the house of representatives might come back, but democrats say the only hope we have of something getting through the house, the senate and the white house may be a very last-minute deal. cnn radio's lisa is following developments on capitol hill right now. the ball is in senate majority leader harry reid's court it would seem right now, lisa. >> that's right. harry reid and the senate seem to be the only game in town right now with the senate returning today. we also know from sources, ali, that over this christmas break there were no conversations between the
're a commodores guy? >> no, i'm not. >> you're not? >> no. >> the fiscal cliff topping our headlines this morning. speaker john boehner urging the senate to come up with a passable debt solution, promising to at least consider any bill the uper chamber produces. senator harry reid to continue tax breaks for households with incomes below $250,000. the senate bill would also likely contain an extension of expiring unemployment benefits. the fiscal cliff is not the only ticking clock in washington. in a letter to congress treasury secretary tim geithner said the u.s. would hit the $16.4 trillion ceiling on monday. without extraordinary measures geithner announced that the treasury would begin accounting moves that would keep the government from hitting its credit limit for about two months. the treasury secretary warning that it's hard to predict exactly how much time the accounting moves will buy, because ongoing cliff negotiations make it hard for them to forecast revenue and spending for next year. >>> housing prices, some good news. on track to record their first yearly gain since 2006. it's a f
-called fiscal cliff as soon as he lands. the goal, to work out a deal that can solve the political gridlock before the new year. the senate will reconvene today. the house, however s not back in session after the failure of speaker john boehner's plan b last week, house members are saying the ball is now in the senate's court. >>> former president george h.w. bush is in the intensive care unit at a houston hospital this morning. according to a statement from the bush family the president has been in intensive care since sunday, after suffering a series of setbacks, including a persistent fever. they also say he's relentlessly positive and spends time talking and joking with his doctors. in the next hour we'll take to you houston for a live update on the president's condition. >>> it's called one of the largest lawsuits of its kind, toyota agrees to a $1.1 billion settlement. we'll tell you who benefits and if one of the people who benefits is you. [ male announcer ] it's that time of year again. time for citi price rewind. are only citi price rewind automatically searches for the lowest pri
about getting anything done before we reach that fiscal cliff. listen to what he said. >> the speaker just has a few d days left to change his mind, but i have to be very honest, mr. president. i don't know time wise how it can happen now. >> let me kind of lay out the state of play. i'll try to keep it out as much as possible. this is something everybody is focused on. the ball is in the senate's court right now. so what senator reid, who you saw earlier, and the president, what they are trying to figure out is whether or not they can craft what the president called a scaled-back bill, which is what he campaigned on. raising taxes for everybody making more than $250,000 a year and adding a few other tax-related items in there. maybe spending but it's unclear. the question is whether or not they can put all that together in a way to get enough republican votes in order to pass the senate and then would have to have enough votes to pass the house as well. whether they can do that in the next few days is an open question. >> just procedurally too, that takes time. and congress notorious
to try to reach a deal about the so-called fiscal cliff he boarded air force one overnight and will be aliveing at andrews in maryland 8:45 our time this morning he cut short his vacation, democrats and republicans have four days to reach a deal before mandatory budget cuts and tax increases kick in january 1st. >>> at least 200 teachers will get concealed weapons training in utah today, overflow crowds are expected when gun rights advocates waive usual fee for teachers. the training tolls the shooting tragedy in newtown, connecticut. gun groups believe teachers can act more quickly than law enforcement in those critical first minutes to protect children. >>> gun buy-back event in los angeles is being called a huge success, you can see why. people in their cars lined up for miles yesterday to turn in their firearms. event is held once a year and takes place in the spring, the mayor moved it up to take advantage of the outrage over the connecticut school massacre, the city gave away up to $200 in grocery gift cards. >>> lance armstrong has until today to appeal the ban impos
, it looks like we're heading towards going over the fiscal cliff, which isn't the end of the universe. but i was reading a piece this morning saying they can vote not to raise taxes, but lower them less. >> but they can still say to their constituents, i did not raise taxes. >> but i wonder what other impact there will be if they go over the cliff, so to speak? >> well, right now, we don't know what affect this is going to have on the market, there is a ceiling issue. >> the u.s. is kind of almost rules driven. we create these rules and create problems for ourselves and have to try to get around them. why, is there anything to like about this system which we're rightly limiting at the moment? >> i suppose you could argue that it's politically sensitive. it's sensitive to the election. rather than one consistent policy being followed, it reacts much better. there's a reason why obama is leading this thing right now. he won the election. he now has the right, morally and politically to force his version of a deal upon people. we also have to consider the dynamics of congress. you know, boehner
ticks toward the fiscal cliff. nancy cordes is with the president in honolulu. nancy? >> reporter: jim, the president is trading the sand for snowy washington. he'll be back in the nation's capital by mid-morning tomorrow, and most of the u.s. senate will be attempting to get back there by then, as well. but house leaders have not given their members the signal to return to washington and say they won't until the u.s. senate passes a bill to avert the fiscal cliff. as the president wrapped up his vacation, federal workers trickled back into the nation's capital. but the only people who can avert the fiscal cliff, members of the house and senate, have not returned, and, in just six days, a 2% payroll tax is set to expire, along with the bush era tax cuts, shrinking the average workers' paycheck in 2013 by about $1,500. long-term unemployment benefits for about two million jobless americans are also set to expire, and $110 billion worth of spending cuts to both domestic and defense programs will start to kick in, forcing layoffs in the public sector and for some private sector government
over the country's fiscal problems and the negotiations over what we all like to call the fiscal cliff. then again, it could be that. dagen: thank you for that. starbucks has a new message for lawmakers and all those congressmen have to do is read what is written on their morning cup of joe. it is already too late for the pentagon. defense cuts are coming in a big way. a look at world currencies and how they are holding up against the dollar. ♪ [ malennouncer ] it's tt me of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you realldon't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it findone, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all youeed is a magic carriage. citi price rewind. starsaving at citi.com/pricerewind. dagen: more good news for recovering the housing market. home prices in the 20 city index grew 4.3% from a year ago. chicago, new york were the only
the lowest level in four months and what we are seeing is the fiscal cliff worries could be to blame for the sudden drop. we are not seeing people jump into the markets here. they're moving to the safe haven. the fear index, the upside, volatility, this morning started to the upside, the idea that we will hear from lawmakers, the time got pushed back, we thought it would be around lunchtime or 3:00 and the truth is we have gotten together and working on it but no real findings, no solution and as a result we have this marked under pressure. tracy: we have plenty of time. i always thought you were debbie downer. the new year's resolution is not to go for the fiscal cliff. lori: i will just keep saying and be done. tracy: president obama and the senate back in office, senator harry reid is the latest to say it looks like we are headed to tumble over the cliff. let's check with rich edson with the latest. >> tracy will have to come up with a new term. we will be saying this afternoon years. democrats and republicans deck at each other saying it is your turn to make a move, up to you to
in the house and the senate to come together in the fiscal cliff. we're going to be talking about the starbucks effort a little later in the show. good morning, ladies and gentlemen. >> good morning. >> good morning. it's thursday, december 27th. i'm mike barnicle in for joe, mika and willie. joining the table, we have political editor and white house correspondent for the huffington post, sam stein. >> hi. >> applause for sam. "fortune's" assistant managing editor, leigh gallagher. and the president of the council on foreign relations, author of "foreign policy begins at home: the case for putting america's house in order." and in washington, vice president and executive editor of msnbc.com and msnbc political analyst, richard wolffe. a minor round of applause for richard wolffe. >> one hand clapping. >> first of all, can anybody here come up with a synonym -- i don't care what it is -- so we don't have to employ the phrase "fiscal cliff" at all during the day? any ideas? anybody got any -- >> how about deadline? >> how about do your job. how about just do your job time. it is ridiculous. a li
on that and what the fiscal cliff means with some of those numbers. we'll dive into some of the taxes we'll all be paying. because it's going to get scary. we were talking a little bit with stuart varney about some of the taxes that you'll pay no matter what regarding that payroll tax hike that you're going to see. everyone is going to get hit. that's not even part of the discussion, hasn't even been put on the table this morning. >> juliet: speak of scary, based on what happened in newtown and what's happened in other schools around the country, parents understandably are scared. educators are concerned about security in schools. let's go to utah where the teachers will be getting weapons training today. and arizona's attorney general plans to have trained or principal trained with a gun inside the school. basically they're not saying they want the teachers to go roaming the halls with a gun. but this is like the last standr classroom. >> clayton: the first response are how are they going to allow guns in utah. in utah, one of the few states that allows guns in public schools, the legislature
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